Money Guide Pro - Reports Tutorial

In this tutorial, we're going to go over some of the different reports that you're able to run.

We are in the Money Guide Pro Snapshot View. Once we're in here, we're going to scroll down to the bottom of the screen. And we're going to hit on the tab Explore Even More. Once we do that, a list of a bunch of different names is going to pop up to you.

So alongside here we have all the different reports that you have the ability to run. I'm going to touch on three key charts here, but please feel free to explore all the different charts that you have access to.

So the first one I'm going to look at is the Combined Details Report. If we click on that, it's going to generate a report here.

What this report does is it gives a breakdown of our estimated retirement cash flow, what is your projected retirement going to look like. Inside here, it's going to go year by year. And for each year, it's going to give us our Estimated Beginning Portfolio Value and any additions to our portfolio. So if we have any income, any contributions that we have to our portfolio. Post-Retirement Income: this includes things like Pension, Social Security, Annuity Income, Assumed Investment Earnings. Of course, this is just an assumption. Assumed Investment Return, Assumed Taxes. And then finally we have our Goals Funded. So we have our Retirement Basic Living Expense, our Health Care goals, our Go-Go Years, and any other goal that you may have inside of your plan. Finally, we get to our Ending Portfolio Value. We looked at 2024 in this example.

But we can look at all the way down on any given year. It's going to tell us any one of those data points all the way up until the end of the plan, which is typically from 92 to 95.

Another cool chart we can look at is the Cash Flow Chart. So I'll click on that. I give some of the same data points, as you can combine details, just in a different format, as well as adding a few other items. So again, we have our Retirement Cash Flow Projections here for each year. We can see Social Security, if there was any Pension, Annuity income. Again, we have all of our goals. It's going to give us the Total Goal Funding Amount, Total Estimated Taxes, Total Estimated Outflows, and then a Surplus or Deficit, so how much we may need to draw from our portfolio in any given year. And again, we can go all the way out and we can check that out to age 95. If we keep scrolling down here, it's going to show us what our Projected Portfolio Values are. So again, we have for example, in 2024 we have a $44,000 deficit. So if we scroll down here, we can see that amount coming out of our portfolio in this year.

So we can see that in any given year. Keep scrolling down. It's also going to estimate our RMDs. If you had QCDs, those would show up here. And then it gives us our Portfolio Withdrawal Rate.

One last chart we're going to look at here is the Social Security Combined Details. So what this chart does is it shows either if you're taking Social Security already, your current amount that you're taking, and if you're not, your estimated amount that you're going to take when you activate it. And then it just gives estimated Cola adjustments each year until the end of your plan.

So back to the charts again here. We have Details for Average Returns, Combined Details and Cash Flow Chart. If we scroll down a little bit, we also see Details for Bad Timing, Combined Details and Cash Flow Chart. The difference between these two is that this looks at just average returns as it states. Whereas Details for Bad Timing looks at what your plan may look like if we experience a market of negative returns.